Now if Paddington were to decide to tackle the dragon right now, (1) the resulting fall and impact, with Nick sandwiched between Paddington and the ground, might well do sufficient damage to kill a good sized dragon, and (2) there would be very little chance of the ship NOT capsizing, leading to each character desperately clinging to rigging, being rescued by Kiwi, or falling to their doom, depending on the whims of the author.

Somehow I don’t see Paddington doing that, at least not before a bit more pontificating by Nicodemus; but it would be entertaining …